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A Practical Legal Guide to Buying A Business
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A Practical Legal Guide to Buying A Business

By
John Kafrouni
04 Mar 2013
•
5
min read

This Guide is designed for use by buyers of businesses, business brokers and professional advisers when buying a business. The purpose of the Guide is to explain some of the key issues, specific risks and the potential for getting things wrong and some opportunities where professional advisers can assist in securing better decisions.

You should not use this Guide as a do-it-yourself tool, because the risks in doing so are extremely high. Every business sale transaction is different and requires the input of professional advisers – typically your lawyer, accountant, finance broker and financial advisor.

The-Guide-Buying-a-Business.-A-Legal-Guide-To-Buying-a-Business

Liability limited by a scheme approved under professional standards legislation.

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What People Say

Joe Kafrouni helped me in my acrimonious shareholders dispute, resulting in Supreme Court litigation. During my case, which took years to resolve, I appreciated Joe’s great concern for my well being and that of my family. I felt he was attentive, direct and provided me with sound advice. In the end, Joe skilfully negotiated a settlement that exceeded my expectations and I am grateful.
Thank you, Joe. It was a pleasure working with you to resolve the matter today. In particular, I appreciated your patience to fully understand each party’s position and to bed down a final heads of agreement to conclude the resolution between the parties.
Joe Kafrouni has been our company’s lawyer from the beginning and has been instrumental in our journey as company owners and directors. When dealing with both complex and sensitive company issues, Joe is able to provide us with clearly articulated strategies that are well thought‐out and with the bigger picture in mind. He genuinely cares and is always willing to share his personal views, which are both honest and just. Joe is highly professional and knowledgeable in his field. You will definitely benefit having him on your team.
Joe, I appreciate it was a very long day yesterday but we got there in the end. I thought you did a great job and I enjoyed watching your approach and the way you conducted the mediation.  
Joe, as you know we were in a very difficult position with our company before we engaged you as our lawyer and fortunately, even with the odds stacked heavily against us in our shareholders dispute, you managed to pull us through to victory. You are a true credit to the industry not only because of your skilled negotiating tactics but also due to your personable nature, which made us feel comfortable in such a volatile situation.
The biggest lesson I have learnt from you recently, Joe, is that it pays to have a professional such as yourself on my side to deal with matters that I am unequipped to handle … so I can carry on with the task at hand of building my business! Thanks again, I’ll take pleasure in recommending your services to anyone in need.
A big thank you for your time today, Joe. Thankfully we managed to strike a deal although it took a little while to do. Thanks for your patience and perseverance.

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